National General Holdings Corp (NGHC) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of National General Holdings Corp (NASDAQ:NGHC) from a strong sell rating to a hold rating in a research report report published on Thursday.
According to Zacks, “National General Holdings Corp. is a specialty personal lines insurance holding company. The Company, through its subsidiaries, provides personal and commercial automobile insurance, recreational vehicle and motorcycle insurance, supplemental health insurance products and other niche insurance products. It operates in two segments, Property and Casualty and Accident and Health. The Property and Casualty segment offers standard and preferred automobile and sub-standard automobile insurance policies; Recreational vehicle insurance policies; commercial automobile insurance policies; and motorcycle insurance policies for various types of motorcycles, as well as golf carts and all-terrain vehicles. The Accident and Health segment provides accident and non-major medical health insurance products. National General Holdings Corp. is headquartered in New York. “
Several other equities research analysts have also weighed in on the company. Keefe, Bruyette & Woods reissued a buy rating on shares of National General Holdings Corp in a research note on Friday, September 29th. FBR & Co reissued a buy rating and set a $29.00 price objective on shares of National General Holdings Corp in a research note on Monday, September 18th. Morgan Stanley reduced their price objective on National General Holdings Corp from $25.00 to $23.00 and set an equal weight rating for the company in a research note on Thursday, August 10th. TheStreet lowered National General Holdings Corp from a b- rating to a c rating in a research note on Tuesday, August 8th. Finally, BidaskClub lowered National General Holdings Corp from a sell rating to a strong sell rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. National General Holdings Corp currently has a consensus rating of Hold and an average price target of $25.75.
National General Holdings Corp (NASDAQ:NGHC) traded down 0.78% during trading on Thursday, hitting $20.40. The stock had a trading volume of 574,620 shares. The firm’s 50-day moving average price is $17.95 and its 200-day moving average price is $20.74. The stock has a market cap of $2.18 billion, a PE ratio of 27.57 and a beta of 1.32. National General Holdings Corp has a 1-year low of $16.21 and a 1-year high of $26.99.
National General Holdings Corp (NASDAQ:NGHC) last released its quarterly earnings data on Monday, August 7th. The insurance provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.28). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $966.51 million. National General Holdings Corp had a return on equity of 7.80% and a net margin of 2.13%. The business’s revenue was up 36.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. On average, equities research analysts predict that National General Holdings Corp will post $1.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Sunday, October 1st will be given a $0.04 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.78%. National General Holdings Corp’s dividend payout ratio (DPR) is presently 22.22%.
In other National General Holdings Corp news, CEO Barry Karfunkel bought 25,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $18.25 per share, with a total value of $456,250.00. Following the completion of the transaction, the chief executive officer now directly owns 110,073 shares in the company, valued at approximately $2,008,832.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.43% of the company’s stock.
Several institutional investors have recently modified their holdings of NGHC. BNP Paribas Arbitrage SA boosted its position in shares of National General Holdings Corp by 530.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,663 shares of the insurance provider’s stock worth $119,000 after buying an additional 4,765 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of National General Holdings Corp in the second quarter worth $143,000. Sciencast Management LP acquired a new stake in shares of National General Holdings Corp in the second quarter worth $211,000. Comerica Bank acquired a new stake in shares of National General Holdings Corp in the second quarter worth $217,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of National General Holdings Corp in the second quarter worth $218,000. 45.92% of the stock is owned by institutional investors and hedge funds.
About National General Holdings Corp
National General Holdings Corp. is a specialty personal lines insurance holding company. Through its subsidiaries, the Company provides a range of insurance products, including personal and commercial automobile, homeowners, umbrella, recreational vehicle, supplemental health, lender-placed and other niche products.
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